Central Development Corporation Ltd. Annual Report 2016-2017

Chairman’s Message

June 21, 2017

On behalf of the Board and Staff at Central Development Corporation and Central Property Management, it is my pleasure to present the Annual Report for the 2016-2017 fiscal year.

The past year has seen a change in leadership at CDC & CPM with the departure of our Executive Director Nicole Warren and the hiring of her replacement Kent Bruyneel. I know Kent’s enthusiasm for non-profit organizations and rural development will be an asset to CDC & CPM and the Board looks forward to continuing to build our relationship with him. The Board would also like to thank Nicole for the countless hours that she has spent over the past few years working with staff, communities, students and government partners on various projects, we’ve had nothing but positive feedback on her performance and we wish her well in her new position.

Although community development projects are still at a historic low, CDC continues to partner with local communities to help them realize their economic potential such as the Community of Victoria Tourism Development project, The Kinkora Place renovation project and the Stanley Bridge Marina Expansion project. We’ve also had representation on the McCain Foods Re-Development Fund committee. With the recent appointment of the Hon. Pat Murphy as Minister of Rural and Regional Development, our hope is that 2017-2018 will bring a renewed focus on rural economic development.

CDC has continued to encourage youth entrepreneurship through the Young Millionaires program for youth aged 8-16, which celebrates its 25th anniversary in 2017 and the Student Biz PEI program for youth aged 16-24. Our partnership with the Rural Action Centre remains a valuable resource for both community groups and those looking to start or expand a business. This was the first year for CDC to administer the Community Capacity Fund. This fund is accessible to non-profit organizations for initial planning, development, and feasibility of community development initiatives.

Central Property Management has seen some activity over the past few months with some short-term rentals and a recent expansion of Mrs. Dunsters in the Borden-Carleton Industrial Mall. In , the William Callbeck Centre has recently welcomed Quality Tourism Services, and Bles Biochemicals Inc. as new tenants. The Kensington Enterprise Centre remains fully rented. Although we are pleased with the recent activity, vacancies continue to be a challenge.

CDC & CPM combined with the Rural Action Centre is a truly valuable asset to this region and our continued focus is to educate the public on how we can assist them in growing the economy.

This marks my final term as a Director at CDC & CPM, I would like to thank Gay, Christine, Roy, Kent, Karen and the rest of the Board for everything they do to make CDC & CPM something to be proud of in our community.

Sincerely,

Kent Croken, Chair

TABLE OF CONTENTS

1.0 Executive Summary……………..………………………………………………..-1-

2.0 Community Development……………………………………………………….-3-

3.0 Development Funds………………………………………………………….…..-7-

4.0 Business Development ……………………………….…………….....…………-8-

5.0 Infrastructure Development……………………………………..…………..... -11-

6.0 Organizational Structure …………………………………………………...... -13-

7.0 2016-2017 Financial Statements………………………………………………..-15-

APPENCICES

Appendix A Confirmed Projects Financing Overview

Appendix B Communications

CENTRAL DEVELOPMENT CORPORATION Annual Report 2016 - 2017

1.0 Executive Summary

Central Development Corporation Overview As the only remaining Regional Economic Development Agency of its kind, Central Development Corporation has been providing community economic development support since 1995 when it evolved out of the former East Prince Area Industrial Commission. CDC is a non-profit organization with a mandate to facilitate community and economic development. Originally focusing on the central region of PEI (rural areas between Summerside and ), in 2015-2016 CDC began to extend its reach to support rural economic development across the Province of PEI.

With an adjusted operational strategy aimed at an increased emphasis on long term sustainability within the organization and its initiatives, CDC has focused on the delivery of three key services to support economic development in rural communities.

Project Coordination: The coordination of project planning, development and implementation services, to strategic community and economic development initiatives.

Program Administration: Similar to project coordination, program administration is the delivery of on-going programs aimed at enhancing business skills, promoting entrepreneurship or supporting the not for profit sector.

Property Management: With over 132,000 square feet of commercial space currently under management, CDC is well positioned to expand on this area of expertise.

Under the current earned mandate, fees are charged based on the particular level of service provided, similar to other professional services. Program and project fees are tied to overall project costs while property fees are based upon an average industry rate.

CDC committed to action in the several areas and has made the following progress throughout 2016-2017:

1. Raise the Level of Awareness.  Created a greater social media presence.  Initiated broader promotion of the commercial properties.  Delivered presentations to organizations regarding youth entrepreneurship programs, project coordination services, economic development strategies, business attraction and commercial space opportunities.

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2. Develop and Sustain Partnerships  Enhanced partnerships with government and private businesses.  Partnered with municipalities and not for profit organizations.  Established new and expanded upon partnerships with existing youth development agencies and service providers. 3. Service the Business Community  Acted upon the identified gaps in services available for businesses.  Provided training on government business programs.  Coordinated opportunities for networking among businesses and business development agencies.

Summary of 2016-2017 Central Development Corporation has successfully partnered with government, private businesses, and community organizations throughout 2016-2017 to deliver programs, support community projects and enhance infrastructure within the central region.

In 2016-2017, CDC was actively involved in eight community development projects with a combined value of approximately $2,876,194. The map below highlights the geographic location of each. In addition to these eight initiatives, CDC has provided assistance in planning, facilitation, consultation, and identification of resources for a number of other organizations during the past year.

Central Development Corporation – Projects

A s t h e o n l y

Central Development Corporation delivered three very successful business development programs in 2016-2017, the Central Rural Action Centre, Young Millionaires Program and Student Biz PEI.

CDC provides property management services to Central Property Management Inc. (CPM), a distinct and separate incorporated entity that operates under the

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direction of a volunteer Board of Directors, which is the same Board of Directors of Central Development Corporation.

CPM owns and maintains four commercial properties with 100,907 square feet of space leased to businesses that provides many economic benefits to the local communities. CDC’s goal is to attract new or expanding business to the space in support of economic growth for the entire region.

2.0 Community Development

Overview Central Development Corporation (CDC) has been involved at various stages in myriad projects of community and economic development. In addition to the descriptions to follow, it bears mentioning that CDC has now successfully completed projects thorough Central PEI in a fashion that has made it in great demand to pursue more of this kind of community based economic development in the future. As one of the only Regional Development organizations left on PEI, CDC has been asked more and more to take part in multi-faceted deals involving both industry and government. CDC is uniquely positioned to continue as a conduit for communities who want an improved quality of life, and businesses who want to find out if Central PEI can be a place to build their future. Through our engagement with both public and private sectors, CDC is able to clear paths for people and commerce to find in Central PEI all that they need to thrive.

CDC has successfully contributed to eight substantial community development initiatives over the past fiscal year.

Each initiative is at a different phase of development; projects with finalized budgets and partnerships in place are highlighted in Table 1 and are further summarized below. Proposed projects and initiatives that CDC has been involved in over the past year are included within the summary below.

Table 1 – Community Development Projects Projects Total Project Budget Bedeque Recreational Centre Upgrades $145,362 Boat Builders Fiberglass Training $41,528 Community Capacity Fund $233,751 Kinkora Renovation Project $184,101 Mashup Weekend $4,832 Resort Municipality of Cavendish Sidewalk $9,313 Project Stanley Bridge Marina Expansion $1,110,000 Victoria Tourism Development $1,147,307 Community Development Totals $2,876,194

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Some of the Community Development initiatives in which CDC was involved in during the 2016-2017 fiscal year are summarized as follows:

Bedeque Recreational Centre Upgrades During 2016, Central Development Corporation was retained to coordinate the final phase of the Bedeque and Area Recreation Centre upgrades. With the financial support of Atlantic Canada Opportunities Agency’s Community Infrastructure Program (CIP) 150 and the generosity of the local community, businesses, and organizations, the upgrades to the facility were completed in November 2016. This infrastructure upgrade project involved refrigeration system upgrades, installation of a new smoke and heat detector system, roof repairs, exhaust system upgrades, washroom upgrades, and parking lot upgrades. This initiative will support the sustainability of this community facility into the future.

Boat Builders Fiberglass Training Central Development Corporation, working collaboratively with key stakeholders implemented a boat building industry specific training program between April and July of 2016. This training program developed in partnership with the Nova Scotia Boat Builders Association, was designed to address the current labour market need and bridge the skills gap facing the boat building industry in Prince Edward Island. The course provided participants with the basic skills for an entry level technician position with any of the boat builders currently operating across the Province. The program covered employability training, hands on technical training and on the job training with employers.

Ten individuals received a certificate of completion in Fundamentals of Fibreglass Lamination. These new skills allow each to embark upon a new career path and fill the need for skilled workers in this sector in Prince Edward Island. Further to the training, the participants were provided with the unique opportunity to work directly alongside employers to gain experience and in turn demonstrate their own employability to the Operators.

Community Capacity Fund Central Development Corporation has coordinated the Community Capacity Fund on behalf of the federal and provincial governments. This fund is a professional service fund focusing on advance planning/strategic capacities relating to rural development initiatives. The fund provides consulting and

4 CENTRAL DEVELOPMENT CORPORATION Annual Report 2016 - 2017 professional services to eligible not-for-profit clients to support strategic planning and capacity building; sector development; community competitiveness and infrastructure. This last fiscal year CDC has provided services to 18 organizations with total dollar amount of $135,047. This program is a pilot project intended to be evaluated at the end of year one on September 30, 2017. Based on the success and level of assistance this project has provided to not-for- profit organizations across the Province, CDC is aiming for it to continue in the next fiscal year.

Kinkora Community Centre CDC has coordinated this project for the Kinkora Community Council to develop a project focused on upgrades to the Kinkora and Area Community Centre. The upgrades allowed this facility to enhance its competitiveness as a rural event venue, improve efficiency of its operations, offering improved technology, and better engage the community and surrounding areas through improved signage and awareness building capacity. The upgrades include the air conditioning system, roof repairs, new flooring, signage, audio/video equipment and a small building addition for storage. This project was completed in February 2017.

Mashup Weekend Central Development Corporation and the Central Rural Action Centre partnered with Mashup Lab to bring a pilot project, Mashup Weekend to Central PEI in November 2016. Mashup Weekend was a workshop experience featuring hands on business development principles. Aspiring rural entrepreneurs pitch their business ideas, build a small team from everyone in the room, and get to work developing, validating, and prototyping their business concept. Experienced entrepreneurs are recruited to provide mentorship and guidance to the teams as they refine and develop their business ideas. At the end of the event teams present their business concept to a panel of experienced entrepreneurs and business experts, who select the 1st, 2nd, and 3rd place teams. People leave the weekend with an injection of energy into their idea, an amplified network, and a deeper understanding of how to quickly move from idea to action.

Unfortunately despite the best efforts to promote and encourage participation, the pilot project at the Central Rural Action Centre resulted with a less than desired outcome. In comparison to other Mashup Weekend events hosted elsewhere in Atlantic Canada, this event had by far more exposure and engagement. Although there was a great deal of interest in advance and plenty of volunteers that attended, no aspiring entrepreneurs attended the event. It was therefore cancelled after the kick off evening. Afterward, CDC together with

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Mashup Lab evaluated the project to determine potential insights into what may have resulted in this outcome. As the Central Rural Action Centre must continually diversify the offering of entrepreneurial training and development initiatives, these insights and lessons learned will be used in the future as new pilots are introduced at the Rural Action Centre.

Resort Municipality Sidewalk Assessment Project The Resort Municipality of Stanley Bridge, Hope River, Bayview, Cavendish and requested the support of Central Development Corporation to secure a professional engineer to conduct an assessment of the existing sidewalk system throughout the municipality. This involved the consultant providing a full condition report of the sidewalk system, evaluating options for its long term sustainability including recommendations regarding necessary repairs and replacement. CDC coordinated the request for proposals process, the review of received proposals with council, award of the work and served as the liaison between the consulting engineer and the Municipality for the duration of the project. The final report was prepared and accepted by the Resort Municipality in October 2016.

Stanley Bridge Marina Expansion This past year, Central Development Corporation continued to support the Stanley Bridge Marina Expansion project. Working in collaboration with the Harbour Authority of Stanley Bridge, a new recreational marina with 40 docks was completed and immediately full for the summer of 2016.

During the fall and winter of 2016/2017 site preparations, upgrades to wastewater and electrical systems, road work to improve traffic flow on the site, construction of two new retail spaces, relocation and an expansion of a building has been completed. This expansion provides for a large deck space, green space, public washrooms, as well as private washrooms, showers, laundry and kitchen facilities for marina clients. The project is expected to be fully complete by June 30, 2017. Local retailers have been secured to occupy the retail space as of July 1, 2017.

Victoria Tourism Development Project During 20106/17 CDC as assisted the Community of Victoria in the continued planning and development of a tourism economic development project. Having secured the necessary funding support in the fall of 2016, CDC has been working collaboratively with government partners, local stakeholders and the community to bring the project for design to implementation. This project

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consists of a three piece multi-faceted tourism development project, which involves the replacement of the deteriorating waterfront seawall, the development of a shared green space, and the revitalization of the Old Victoria School House as a new event venue for the region. This project is expected to be completed by November 30, 2017.

3.0 Development Funds

Overview Central Development Corporation administers three community economic development funds: the Bedeque Development Fund, the Borden-Carleton Development Fund and the South Shore Tourism Development Fund. These funds are designed to foster community economic development within the communities that contributed valuable assets upon the merger of the former holding companies.

Bedeque Development Fund The Bedeque Development Fund is designed to support community and economic development initiatives located within the area defined by the (former) Communities of Bedeque and Central Bedeque. Projects that are supported by this fund must promote employment opportunities, enhance community infrastructure, or increase the sustainability of this area.

No applications were received through the Bedeque Development Fund during fiscal year 2016-2017.

Borden-Carleton Development Fund The Borden-Carleton Development Fund is designed to support community and economic development initiatives located within the area defined by the Borden- Carleton fire district. Projects that are supported must promote employment opportunities, enhance community infrastructure, or increase the sustainability of this area.

No applications were received through the Borden-Carleton Development Fund during fiscal year 2016-2017.

South Shore Tourism Development Fund The South Shore Tourism Development Fund is designed to enhance the tourism industry along PEI’s south shore through investment in new tourism infrastructure and programming.

There was one application received through the South Shore Tourism Development Fund; at year-end it was still waiting on approval from the Board.

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4.0 Business Development

Overview CDC strives to promote and support a strong economic environment in Central PEI through the delivery of programs aimed at enhancing business skills, promoting entrepreneurship or supporting the not for profit sector. Maintaining effective partnerships amongst government, businesses and communities has been an important function of CDC in fostering new investment in the region. The organization delivered three very successful business development programs in 2016-2017, the Central Rural Action Centre, Young Millionaires Program and Student Biz PEI.

The Rural Action Centre provides an accessible, local, one-stop-service model where rural businesses can access provincial and federal business development programs. The Centre offers business counselling services, training and multifaceted business information sessions and provides community development and capacity building assistance. Through these services, the Rural Action Centres aims to remove obstacles that impede the development and growth of businesses and communities in rural Prince Edward Island.

CDC has paid particular attention to the need for youth entrepreneurship programming over the years. Attracting young people to consider entrepreneurship as a viable career option will help foster economic development across PEI, but will also help to retain youth in rural communities. The Young Millionaires Program has been encouraging and developing entrepreneurial skills in young people for many years. This highly successful program offers youth between the ages of 8-16 who have an interest in starting their own summer business with training, mentoring, and if needed, seed money to get their business off the ground.

In 2015, CDC together with its partners identified a gap in the level of support for youth entrepreneurship for students 16-24 years of age. Therefore, CDC developed and delivered a pilot program, Student Biz PEI, and has since offered the program again in 2016. To provide young entrepreneurs with training, assistance with the business planning process and funds to offset startup costs for their summer business. This model offered students a chance to try out running a business with far less risk or investment required. This is the second year for the Program.

The total budget of Business Development Programs for the 2016-2017 year is detailed in Table 2.

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Table 2 – Business Development Programs Project Total Project Budget Young Millionaires Program $63,038 Rural Action Centre $75,000 Newcomers Association $1,350 Student Biz PEI $61,500 Business Development Totals 200,888

Business Development initiatives in which CDC was involved in during the 2016- 2017 fiscal year are summarized as follows:

Young Millionaires Program The Young Millionaires Program has been offering youth across PEI the opportunity to experience entrepreneurship first hand for 24 years. Through a series of workshops participants ages 8-16 learn business basics, foundations of successful entrepreneurship and develop business plans for themselves. A non- repayable grant of up to $100 for the establishment of a sole proprietorship and up to $150 for a partnership is offered to participants who successfully complete the workshops, submit a viable business plan and start their own summer business.

The Young Millionaires Program (YMP) for 2016-2017 resulted in 167 participants, 145 businesses were funded including 22 partnerships and 123 sole proprietorships. YMP is coordinated provincially and delivered in the central region by Central Development Corporation. Partnerships with Active Communities Inc., RDEE PEI, CBDC West Prince Ventures and Start-Up Charlottetown provide for province wide local delivery of the program in both official languages.

Young Millionaires Partnership with the PEI Association of Newcomers to Canada In the fall of 2016, Central Development Corporation and the Young Millionaires Program partnered with the PEI Association for Newcomers to Canada to offer a new and unique initiative. The Newcomers Association was seeking to develop an entrepreneurship program specifically for newcomer youth. To support this, CDC through the Young Millionaires Program tailored the established training curriculum for the Young Millionaires Program to the needs of the Newcomers Association and delivered workshops to 10 newcomer youth between the ages of 10-16.

This series of four workshops introduced newcomer youth to the concept of entrepreneurship in Canada. Participants developed basic business skills and a collective business plan. The Newcomers Association was actively involved in the

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training portion so they could effectively support the youth throughout the implementation of their collective business.

Rural Action Centre The operation of the Central Rural Action Centre is based on a partnership between federal, provincial and non- governmental organizations, combining to provide rural access to support programs for entrepreneurs, businesses and community organizations. For the 2016-2017 fiscal year, the Centre’s on-site partners were as follows: Central Development Corporation, Atlantic Canada Opportunities Agency, Rural and Regional Development, CBDC Central PEI , Skills PEI, and Innovation PEI; with off-site partner Canada Business. The Centre accounted for 3,455 interactions, making for a busy year. This number is comprised of both walk-in and telephone inquiries.

Client Information Officer (CIO) inquiries from business and community development clients accounted for 121 clients interactions throughout the year. These services ranged from referrals for general business guidance, providing information on business planning, to referrals to government programing and specific business information sources.

As part of the educational component, the Centre hosted 32 events throughout the year to benefit business and community organizations. The Centre collaborated with 18 off-site partners to offer a wide range of sessions, from “How to Complete a Record of Employment” with Service Canada, to “Bookkeeping Basics for Small Business” with MRSB Group. A wide variety of events were held at the Centre to help address current needs within central PEI.

Student Biz PEI Over the summer of 2016, Central Development Corporation delivered the second Student Biz PEI program. This business development program aims to foster youth entrepreneurship in Prince Edward Island for high school, college or university students between 16 and 24 years of age. The program consists of business development training, resources and support for aspiring student entrepreneurs to turn their business ideas into a profitable summer business. The program offers qualifying students with training and mentorship along with a non-repayable contribution of $1,000 to offset start-up costs for a summer business, access to an interest free loan for up to $1,000 if needed and $500 towards post-secondary education upon successful completion of the program. Though the program is still expanding and becoming more

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widely known, CDC has seen a fifty percent increase in the number of youth businesses started over the launch of the pilot program in 2015. In 2016, fourteen students were accepted into the training program; eleven of these participants completed the training and developed their business plan. Eight students proceeded to successfully launch their summer business.

5.0 Infrastructure Development

Overview Infrastructure is critical to the economic prosperity of any region. Central Development Corporation and Central Property Management work to ensure adequate infrastructure is in place to attract and maintain business in the region. This infrastructure ranges from basic needs such as: water, sewage and utilities to more specific requirements such as telecommunications and recreational opportunities.

CDC provides property management services to Central Property Management Inc. (CPM), a distinct and separate incorporated entity that operates under the direction of a volunteer Board of Directors, which is the same Board of Directors of Central Development Corporation.

CPM owns and maintains four commercial properties with 100,907 square feet of space leased to businesses that provide many economic benefits to the local communities. With vacant space in some of the properties, CDC’s goal is to attract new or expanding business to the space in support of economic growth for the entire region.

The total budget of Infrastructure Development Initiatives for the 2016-2017 year is detailed in Table 3.

Table 3 – Infrastructure Development Projects Project Total Project Budget Central Property Management Inc. $606,635 Infrastructure Development Totals $606,635

Infrastructure Development initiatives in which CDC was involved in during the 2016-2017 fiscal year is summarized as follows:

Borden-Carleton Business Park and Industrial Mall Facility This facility was established in 1995 as part of the closure of the ferry service. Assets consist of a 60 acre business park and three facilities totaling 80,000 square feet and accounted for approximately 160 jobs.

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Businesses located within the Company’s business park during 2016-2017 include:  MacDougall Steel Erectors - Manufacturing  Public Works - Storage  Transcontinental Media - Publications  Town of Borden-Carleton Office – Municipal Office  Mrs. Dunster’s – Bakery Production

Since August 2014 there has been 19,560 square feet of office space available in the Borden Facility. Although continuous efforts have been made to promote and advertise this space, it remains vacant to any long-term tenant.

Wm. Callbeck Centre Facility The Wm. Callbeck Centre, located in Central Bedeque, carried out comprehensive re- development plans since its acquisition in 2009.

During 2016-2017 year this facility accommodated the following businesses and accounted for approximately 50 jobs:  D & L Auctions - Auction  Rotary Club of Summerside - CFIA  Rural Action Centre & Central Development Corporation - Office  Country Cookhouse - Cafe  Bedeque Total Fitness - Gym  Bedeque and Area Historical Society – Museum  Bles Biochemicals Inc. - Manufacturing  Quality Tourism Services - Tourism Accommodation Inspectors

Kensington Facility The Kensington Facility is a 15,000 square foot multi-tenant commercial facility in the Kensington Industrial Park. CPM also purchased and developed a 37,000 square foot facility to house a Bio-science company.

During 2016-2017 this facility accommodated the following businesses and accounted for approximately 40 jobs:  Natures Crops International - Bio Science  Atlantic Provinces Harness Racing Commission - Office  Kindred Spirits - Office/Shipping  East Prince Health - Storage  Kensington Agricultural Services – Storage

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6.0 Organizational Structure

The affairs of the corporation are managed by a Board of Directors numbering not less than six and not more than ten. The by-laws of the corporation indicate:

 Directors shall be appointed by the following method:

All Directors shall reside within the Province of Prince Edward Island.

Directors shall be filled according to sectoral representation with the Agricultural, Fishing, Tourism and Manufacturing sectors having priority. Other sectors that shall be considered include: Professional, Retail, Education and Construction.

 Terms of office shall be as follows:

Directors shall be elected for a term not exceeding three (3) years. No person shall hold office of a Director for more than six (6) consecutive years.

Non-voting ex-officio appointments shall be made by the Board from time to time as required. The length of such appointments together with pertinent duties and responsibilities shall be determined by the Board of Directors.

A list of the Board of Directors for the 2016-2017 fiscal year as well as their sectors, positions, and residence can be found in Table 4.

Table 4 – Central Development Corporation Board of Directors 2016-2017 DIRECTORS POSITION SECTORS RESIDENCE Kent Croken Chairman Agricultural Emerald Gordon Coffin Vice-Chair Professional Kensington Vacant Position Secretary / Treasurer Alan Miller Director Professional North Wiltshire Earle Smith Director Agricultural Central Bedeque Robert Linkletter Director Manufacturing Central Bedeque Stephen Hardy Director Professional Borden-Carleton Jeff Leary Director Professional Borden-Carleton Hilary Price Director Professional Victoria Rowan Caseley Director Professional Kensington Thane Smallwood Director Manufacturing Summerside

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During the 2016 – 2017 year the corporation had a staff of five, not including contract and summer staff. The positions within the Corporation are outlined in the following organizational chart:

Central Development Corporation Organizational Structure

Central Development Corporation Board of Directors

Executive Director

Accounting/Office Manager Client Information Officer

Central Property Management Board of Directors

Borden - Carleton Kensington Facility Wm. Callbeck Centre Industrial Mall Facility Facility

Property Property Maintenance Maintenance Personnel Personnel

Corporate Structure Organizational Structure

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7.0 2016-2017 Financial Statements

Attached are copies of Central Development Corporation’s audited financial statements, as prepared by the accounting firm of Corkum Professional Accounting and Tax, Chartered Professional Accounts.

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Appendix A

Central Development Corporation Ltd. Confirmed Project Financing Overview 2016-2017

Community Development Total Business Development & Total Project Entrepreneurship Project Budget Budget Bedeque Recreational Centre $145,362 Young Millionaires Program $63,038 Upgrades Boat Builders Fiberglass $41,528 Rural Action Centre $75,000 Training Community Capacity Fund $233,751 Student Biz PEI $61,500 Kinkora Renovation Project $184,101 Newcomers of PEI $1,350 Resort Municipality of Business Development & Cavendish Sidewalk Project $9,313 Entrepreneurship Totals $200,888 Mashup Weekend $4,832 Victoria Tourism Development $1,147,307 Infrastructure Development Total Project Stanley Bridge Marina $1,110,000 Budget Expansion Community Development Central Property Management $606,635 Totals $2,876,194 Inc. Infrastructure Development Totals $606,635

Development Totals $3,683,717

Sources of Project Funding

ACOA 50%

CDC 17%

Community 22%

Skills PEI 2%

Province 7%

Other 2%

Appendix B

Communications